not a great update. It seems there is TO interest but not at a level that the board wants. Problem is that the company has lost market support, global recession on its way and they now have a placeholder CEO. Maybe the board don't want a TO simply because they loose their board fees, which are eggregious by the way. Turkeys dont vote for thanksgiving dinner and aside from peter martin, none of them have any skin in the game. They are just professional non-execs on as many boards as they can get on to collect fees.
This is going to need some active involvement from shareholders to get a TO done and act in the best interests of the company.
Ann: Response to Media Speculation, page-30
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